PRE-MARKET AUSTRALIAN, JAPANESE, AND SOUTH KOREAN STOCKS NEWS

AUSTRALIA

• 
  Immuron Ltd (IMC AT) – Co. plans Phase 2 trial for IMM-529 following FDA review. Plans investigational new drug (IND) application for IMM-529 in 1H 2025. Completes pre-IND meeting with FDA on development of IMM-529 as product to specifically prevent or treat Clostridioides difficile infection. (Newswires)


• 
  Kazia Therapeutics Ltd (KZA AT) – Co. files for mixed shelf of up to $100 million, SEC filing. (Newswires)


• 
  Opthea Ltd (OPT AT) – Co. announces executive leadership changes and senior hires. Daniel Geffken appointed interim CFO. (Newswires)


• 
  Swoop Holdings Ltd (SWP AT) – Co. submits competing proposal to acquire 100% of Vonex (VN8 AT). Non-binding combined cash and scrip offer submitted to chair of Vonex board for A$0.040 per Vonex share. (Newswires)

Other News

• Australia and Japan Joint Statement expressed serious concerns over recent developments in the South China Sea, including an intensification of China’s dangerous and coercive activities towards the Philippines. (Newswires)

JAPAN

• 
  Itochu (8001 JT), Secom (9735 JT) – Cos. say they will jointly launch tender offer for Pasco shares. Pasco to be delisted. Cos. will offer JPY 2,140 per Pasco share. (Newswires)


• 
  Panasonic Holdings (6752 JT) – Co. to make core lithium-ion battery components for Subaru and Mazda Motor, with investment of approximately 550 billion yen, Nikkei reports. (Nikkei)


• 
  Nippon Steel (5401 JT) – Co. proposes draft national security agreement, and other commitments to address US government concerns about US Steel (X) acquisition, according to a letter seen by Reuters Nippon hires former US house lawmaker Dick Gephardt to assist in efforts to reach an agreement with the United Steelworkers union. Nippon proposes after the acquisition majority of the board of directors of US Steel be US citizens with three approved by the US government to oversee compliance with the national security agreement. National security risks from Nippon Steel's (5401 JT) bid for US Steel (X) relate to potential decisions by Nippon Steel that could lead to a reduction in domestic steel production capacity, according to Reuters citing a CFIUS letter. (Newswires)


• 
  Nissan (7201 JT) – Co. plans to invest around 150 billion yen in producing automotive lithium-iron phosphate batteries, aiming to start supplying them in 2028, Nikkei reports. (Nikkei)


• 
  Rohm (6963 JT) – Co. and UAES sign a long-term supply agreement for SiC power devices. (Newswires)


• 
  Rock Field (2910 JT) – Co. reports Q1 group net loss of JPY 103mln vs profit of JPY 326mln. 2024/25 forecast profit JPY 1.04bln (-17.3%). Co. reports Q1 group operating profit of JPY 334mln (-30.6%). 2024/25 forecast operating profit JPY 2.04bln (+17.5%). Co. reports Q1 group recurring profit of JPY 354mln (-30.1%). 2024/25 forecast recurring profit JPY 2.08bln (+16.7%). (Newswires)


• 
  Seven & I (3382 JT) – Co. looks forward to engaging with Alimentation Couche-Tard constructively, earnings conf call. (Newswires) Co. to inform suitor Couche-Tard that purchase price is inadequate, competition law concerns remain, and will request Couche-Tard to reconsider proposal including purchase price, Nikkei reports. (Nikkei)


• 
  Teijin (3401 JT) – Effissimo Capital raises stake in Co. to 7.67% from 6.03%, regulatory filing. (Newswires)


• 
  Toyota (7203 JT), Nissan (7201 JT) – Cos are to expand Japan's battery production capacity, Nikkei reports. Cos and other firms to total 1 trillion yen to expand Japanese production capacity for storage batteries by around 50%. (Nikkei)


• 
  Toyota (7203 JT) – Co. will ramp up battery production at two subsidiaries, with investment expected to total about 250 billion yen, Nikkei reports. (Nikkei) Co. to upgrade partnership with BMW in fuel cell technology. Plans to bring first series production fuel cell vehicle to market in 2028. (Newswires)

Other News

• Japan-US Business Council issued comments on reports regarding Biden administration's blocking of sale of US Steel to Nippon Steel. Says "very alarmed by any attempts to politicise the Committee on Foreign Investment in the United States (CFIUS) review process." (Newswires)


• Australia and Japan Joint Statement expressed serious concerns over recent developments in the South China Sea, including an intensification of China’s dangerous and coercive activities towards the Philippines. (Newswires)

Data Recap

• Japanese All Household Spending YY* (Jul) 0.1% vs. Exp. 1.2% (Prev. -1.4%)


• Japanese All Household Spending MM* (Jul) -1.7% vs. Exp. -0.2% (Prev. 0.1%)

SOUTH KOREA

• 
  Hanwool Materials Science Inc (091440 KS) – Co. to invest KRW 8bln in new facility. (Newswires)


• 
  Seoho Electric Co (065710 KS) – Co. wins KRW 48bln order. (Newswires)


• 
  Studio Santa Claus Entertainment (204630 KS) – Co. to conduct capital increase of KRW 2.5bln for operational funds. (Newswires)

Data Recap

• South Korean Current Account Bal NSA (Jul) 9.13B (Prev. 12.26B).

06 Sep 2024 - 00:33- Research Sheet- Source: Newsquawk